Royce & Associates LP Increases Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Royce & Associates LP increased its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,064 shares of the textile maker’s stock after buying an additional 3,537 shares during the period. Royce & Associates LP owned about 0.09% of G-III Apparel Group worth $1,162,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of G-III Apparel Group in the second quarter valued at about $42,000. CWM LLC grew its holdings in G-III Apparel Group by 115.0% during the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after buying an additional 1,012 shares during the last quarter. Point72 DIFC Ltd purchased a new position in G-III Apparel Group during the second quarter worth $78,000. Innealta Capital LLC acquired a new position in shares of G-III Apparel Group in the second quarter worth $124,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of G-III Apparel Group in the third quarter valued at $229,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Guggenheim assumed coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $36.00 price objective for the company. Barclays upped their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 5th. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, KeyCorp lifted their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.00.

G-III Apparel Group Trading Down 1.6 %

Shares of GIII opened at $29.24 on Wednesday. The stock’s fifty day simple moving average is $30.80 and its 200 day simple moving average is $28.40. G-III Apparel Group, Ltd. has a twelve month low of $20.66 and a twelve month high of $35.68. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.28 billion, a P/E ratio of 7.31 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.25. The business had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. On average, equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the transaction, the chief executive officer now owns 3,990,085 shares in the company, valued at $126,046,785.15. The trade was a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.40% of the stock is owned by insiders.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.